Peoples Financial Services CORP. cut its position in shares of SYSCO Co. (NYSE:SYY) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,625 shares of the company’s stock after selling 375 shares during the quarter. Peoples Financial Services CORP.’s holdings in SYSCO were worth $916,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in SYSCO during the second quarter valued at about $121,000. Daiwa SB Investments Ltd. purchased a new stake in shares of SYSCO in the third quarter worth approximately $132,000. Security National Trust Co. lifted its position in shares of SYSCO by 110.0% in the third quarter. Security National Trust Co. now owns 2,100 shares of the company’s stock worth $154,000 after purchasing an additional 1,100 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of SYSCO in the third quarter worth approximately $181,000. Finally, Strategic Wealth Partners Ltd. lifted its position in shares of SYSCO by 17.3% in the third quarter. Strategic Wealth Partners Ltd. now owns 2,621 shares of the company’s stock worth $192,000 after purchasing an additional 386 shares in the last quarter. 78.91% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on SYY shares. Pivotal Research reissued a “sell” rating and issued a $62.00 price target on shares of SYSCO in a research report on Friday, November 2nd. Royal Bank of Canada set a $67.00 price objective on SYSCO and gave the stock a “hold” rating in a report on Friday, November 2nd. Citigroup dropped their price objective on SYSCO from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th. ValuEngine downgraded SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research restated a “hold” rating on shares of SYSCO in a report on Friday, November 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. SYSCO has a consensus rating of “Hold” and an average price target of $73.75.
SYY stock traded up $0.15 during midday trading on Monday, hitting $63.19. 117,351 shares of the company traded hands, compared to its average volume of 2,876,988. SYSCO Co. has a twelve month low of $56.01 and a twelve month high of $75.98. The company has a quick ratio of 0.80, a current ratio of 1.30 and a debt-to-equity ratio of 3.00. The company has a market cap of $32.48 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.57.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, equities analysts expect that SYSCO Co. will post 3.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 4th will be paid a $0.39 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.47%. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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